Whether it is China, the United States of America or the United Kingdom, it can often feel like the whole world is not producing at the level that it normally does. Due to the many strains of the global supply chain crisis — exacerbated by coronavirus and a whole host of other, inter-locking factors — this is having a massive knock-on effect on manufacturing, forcing governments and companies alike to figure out ways to properly adapt and survive, if not thrive.
This can be a rather difficult process, however, especially ahead of the busy Thanksgiving and Christmas seasons. This express guide has been created to recommend a few ways that your business can tackle the global supply chain crisis and meet its targets regardless. If you are interested in learning more, please read the guide written for you below in order to get the complete overview.
3D Printers
The issue that many people in the manufacturing industry have right now due to the global supply chain crisis — already hitting global growth — is the ability to get the right raw materials on site that they can actually turn into manufacturing goods. With such a large backlog in ports and processing sites, you can actually expect this problem to get a whole lot worse before it gets better. This means that manufacturers should start thinking about whether or not these materials are able to be produced on site, instead.
Thankfully for you, there is a revolution currently going on in the form of 3D printing. This means that you will be able to make sure that you get the materials you need on site, which can then be processed into the manufacturing material that you need. If you are interested in accelerating your business through 3D printing, it’s definitely worth taking a look at the Rapid PSI solutions currently available at www.rapidpsi.com/rapid-tooling/.
By Offering Higher Wages
One of the biggest issues regarding supply chains in a post-pandemic world is making sure that you have enough workers to cover the gaps. Many experts are currently decrying the fact that there simply aren’t enough people out there to make sure that goods and services can be delivered on time. This means that your business has to be offering as generous as possible wages to make sure that people are retained and want to work for your company. This should be combined with the best possible benefits so that you can make sure that you are properly staffed, especially during the higher demand that one can expect during the holiday season.
Offering Incentives for Hard Work
During the busiest of times, you will be required to make sure that your workers are doing the best job that they can in order to meet demand. This is why it might be worth following the example of construction legend C.C. Myers and offering unique incentives if your workers are able to meet demand. Research has shown that this is a much more productive way of getting workers to surpass demand than threatening them with job losses. The additional benefit of such an approach is that it paints your business in the best possible light, meaning that your image will rise in the national media, possibly even increasing your stock price. It’s worth taking a look around at the types of incentives that could work for your business — from one-time bonuses to pay rises — and baking them into your working model in order to achieve manufacturing success.
Stocking More Than You Think You Need
While in normal times, it might be necessary to make sure that you have only have the material that you think you need, thus being able to make sure that you are a company that is embracing the concepts of lean manufacturing, we are not living in normal times. Due to the fact that waiting times for cargo to come from areas such as China and South America has more than quadrupled as a result of the coronavirus crisis, it might help to order more materials than you think at any one time so you can be sure to meet demand while waiting for the next order.
By Shrinking Products
Sometimes, one of the most effective ways to deal with increased demand and material scarcity is by adapting the type of products that you send off to your consumers. You can figure out ways to either shrink the products that you are using or at least to shrink the materials that they are sent in. By doing this, you will be able to pack more product with less material, possibly providing a solution to increased demand without losing profits in the process.
Improve Your Digital Tools
It is very important to be able to forecast demand and be able to respond to it in real time as a manufacturing business, especially when the whole supply chain can feel so volatile. This is why it is so important to make sure that the digital tools that you have — whether it is with regard to your staffing rota or checking inventory — are all in order. If you are not sure whether or not your business is up to scratch, then it might be worth getting in touch with a digital transformation consultant who can help bring your manufacturing business into the 21st century.
Conclusion
This guide has been created to outline a few ways that your manufacturing business can adapt to some of the biggest changes in global supply chains the world has ever seen. Companies are currently facing unprecedented times, which is having a massive knock-on effect upon the global economy. This means that if you want to survive these times, it is recommended to implement all of the suggestions written above. If you find yourself facing difficulties in the next few months, feel free to re-read the guide again for a quick refresher. Sitting on your hands is not an option.
